Collectivfide in the News

Wednesday September 23, 2020

Cambridge, ON: Today, Collectivfide Insurance Group Inc. announced finalization of the acquisition of a majority stake in Ayr Ontario-based multiline insurance brokerage dbi Brokers Ltd. This deal marks the second brokerage acquisition for Collectivfide, which was formed last year by a number of mutual insurance companies in Ontario and elsewhere across Canada.

“Today’s announcement sees Collectivfide take another major step in fulfilling its plan to become a significant owner of independent brokerages in the property and casualty insurance space. We believe that the strategy of securing ownership of independent brokerages will help us reach our dual goal of protecting the independent broker distribution channel while ensuring that Ontario’s mutual insurance sector continues to thrive.

Over its almost 90 years in operation, dbi has proven to be very customer focused. We look forward to working with its management team so the company can continue to serve its valued clients in Southwestern Ontario. Collectivfide’s management and Board of Directors will endeavour to ensure that dbi has access to everything it needs to continue its dedication to customer service while also growing the business in a way that makes sense,” says Tony Ngo, President and CEO of Collectivfide Insurance Group.

On June 1, Collectivfide announced finalization of the acquisition of a majority stake in Alliston, Ontario-based multi-line insurance brokerage Doner-Horsley. That deal marked the first of many planned broker acquisitions for the company.

About Collectivfide Insurance Group Inc.

Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada with more than a century-and-a-half of experience to draw upon. The company is committed to protecting the independent broker distribution channel. By working alongside broker partners, Collectivfide supports brokerages with all facets of their operations in order to help them focus on serving and building relationships with members of the communities they serve. At Collectivfide, we operate under the principle that mutual insurers and their broker partners are stronger when they work together.

About dbi Brokers Ltd.

dbi Brokers Ltd. is a family owned property and casualty insurance broker that has been serving the Southwestern Ontario region for almost 90 years. With offices in Simcoe, Paris, Ayr and Goderich, the brokerage offers its customers a full range of personal and commercial lines property and casualty insurance coverage as well as travel and life insurance designed to insure risk exposures of individuals, families, farms and businesses. The broker’s staff live and work in the towns in which it operates and support community activities through sponsorship of community events and organizations.

Media contact:

Tony Ngo, President & CEO

Collectivfide Insurance Group Inc.

tony.ngo@collectivfide.com

Learn more about us at www.collectivfide.com